New Mexico Power of Attorney under Uniform Power of Attorney Act
Regarding the power of attorney form contained in Appendix 2, Form 1 of the 2004 4th edition of LIFE PLANNING IN NEW MEXICO, the New Mexico legislature passed a new law about financial powers of attorney, the Uniform Power of Attorney Act (UPAA). UPAA contains a lengthy form that may be used for those who wish to update their financial powers of attorney. YOU ARE NOT REQUIRED TO USE THE UPAA FORM CONTAINED IN THE NEW LAW, but the information below should allow you to access the form and decide whether you wish to update your document.
Under UPAA, powers of attorney executed before July 1, 2007 are valid if their execution complied with the law of this state as it existed at the time of execution. A power of attorney executed in New Mexico on or after July 1, 2007 is valid if its execution complies with the requirements for signing set out above.
For those who own the 2004 4th edition of LIFE PLANNING IN NEW MEXICO, pp. 220-225, delete old Form 1: New Mexico Power of Attorney Form and substitute the following:
Form 1: Information About Uniform Power of Attorney Act (UPAA) Form
The power of attorney form contained in UPAA is too long and complex to include in the Appendix of this book. However, you can view a copy of the law that contains the form at: New Mexico Statutes/Laws
This web site contains all of New Mexico’s laws. To read UPAA, which contains a sample financial power of attorney, in the ‘search’ bar at the top of the screen, type “45-5B-301″ including the quotation marks. Clicking the ‘search’ button should take you to a link for the law–click on the 2nd match, 45-5B-301. You should be able to cut and paste the “Statutory form power of attorney” into a word processing document. If you are using Microsoft Word, select “Edit, Paste Special, Unformatted Text” to avoid major formatting problems.
Be sure to read the directions and cautionary language included with the UPAA form and to seek legal advice if you have questions.
You can also research other New Mexico laws by clicking on the New Mexico Statutes folder link on the left side of the Statutes and Rules site.